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Forum Rules Gold Prices!


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 Gold - Hits Record - Dollar Debased, Gold Attacked, Big banks engaged in price fixing!
jofortruth
Posted: Feb 22 2010, 07:09 PM


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jofortruth
Posted: Mar 25 2010, 06:43 PM


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Did Gordon Brown Sell UK’s Gold To Keep AIG And Rothschild Solvent; More Disclosures On How The NY Fed Manipulates Gold Prices
http://www.prisonplanet.com/did-gordon-bro...old-prices.html
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jofortruth
Posted: Apr 3 2010, 08:28 PM


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UK Treasury Releases FOIA on Gordon Brown's 1998 Gold Sale, Catches Tony Blair Lying, Questions US Treasury's Good Delivery Standards:
http://www.zerohedge.com/article/uk-treasu...g-questions-us-

FOIA Document:
http://www.zerohedge.com/sites/default/fil...Gold%20FOIA.pdf
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jofortruth
Posted: Apr 15 2010, 09:04 PM


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jofortruth
Posted: May 7 2010, 02:01 PM


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Forex Gold Forecast Special MidDay Report 5-6-2010 Dow Plunges Gold Breaks Above 1200
http://www.youtube.com/watch?v=i_XosYwN-5Q

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jofortruth
Posted: May 11 2010, 06:54 PM


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The Vulcan Report (38) - 11 May 2010 - GOLD and SILVER SPOT.mp4
http://www.youtube.com/watch?v=RP_LUN-U0BI





Under Accumulation Now! A BUY! Just passed a significant level today!
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jofortruth
Posted: May 14 2010, 04:13 PM


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QUOTE
(Time 5:30) When fighting about gold....Rick Santelli said something along the lines of, "The price of gold itself for whatever reason is telling us something is wrong. The problem is, as people run into these ETF's like GLD and push the prices up....what happens when they find out that there isn't enough physical gold to back all the paper they are buying?"
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jofortruth
Posted: Sep 19 2010, 08:48 AM


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QUOTE
He said, “Fiat money has no place to go but gold.”
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jofortruth
Posted: Sep 26 2010, 06:47 PM


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jofortruth
Posted: Oct 30 2010, 10:39 AM


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QUOTE
16/09/2010 1:15:02 PM
By Greg Peel

Since the Washington Agreement was first signed in September 1999, the central bank “gold year” has begun and ended in September. With this gold year almost at an end, gold consultant GFMS anticipates that global central banks will have net bought around 15 tonnes. The last time the world's central banks were net buyers rather than net sellers was in 1988.

The Washington Agreement was signed between European Union members ahead of the launch of the euro to prevent the indiscriminate selling of gold by any individual member which would impact on the value of the common currency. It has nothing to do with the US, it's just that all members were in Washington for an IMF meeting at the time. And it was important given Europe is by far the biggest holder of gold outside the US – a legacy of thousands of years of history.

The Agreement was also a rapid response to the Bank of England's selling of over half its gold to the lowest bidder (~US$250/oz) on instruction from Washington in order to support the US dollar in the wake of the Long Term Capital Management hedge fund collapse. It is almost laughable to think now that LTCM was the last time a GFC was truly threatened and all for a paltry US$6bn. These days if Timothy Geithner dropped US$6bn out of his pocket on the way up Capitol Hill, he wouldn't bother bending to pick it up. But the eurozone did not want any further such sales to be a possibility, so it imposed a limit.

That limit was a collective 400 tonnes of gold sales per year for five years. In 2004 the Agreement was rolled for another five years with a limit of 500 tonnes, and it was rolled again in 2009 with the 400 tonne limit reimposed. On average, net sales from central banks over the past decade have totalled 442 tonnes. But by 2009, the picture had changed. Eurozone countries in difficulty such as Spain were selling large amounts of gold, but stronger nations such as Germany and France elected to hang on. In previous years, gold had been seen as an anachronism compared to the new world of debt-backed paper currency given it offers no yield. Post-GFC, gold has regained its safe haven status at a time when paper currencies are looking more paper than currency.

The result is very little gold was sold in 2009, and the new 400 tonne limit seemed almost unnecessary. On the flipside, the developing BRIC economies realised they had very little in the way of gold to back their own currencies, or to hold as protection against a wobbly reserve currency. Thus we've seen China move to be a major gold buyer (albeit contained to its own production), Brazil and particularly Russia upping their holdings, and India taking out half of the IMF's available gold in one fell swoop. And Saudi Arabia has also been in on the game, as well as a number of smaller nations.

The European crisis has since hit, and while it may be tempting to the PIIGS to sell some more gold to prop up distraught sovereign balance sheets, now is not a good time to throw away the only asset that might have true value. So it is of little surprise that the world's central banks have now swung from being net sellers to net buyers.

Which is clearly another reason why gold is currently at an all time high (on a nominal basis – in real terms gold hit about US$2300/oz in 1980), alongside the private sector's thirst for gold ETFs and the ongoing downtrend in global new gold production.

Where to from here? Well on the one hand, the level of gold held in ETFs has never been this high, meaning a sudden panic sell-off is not a remote possibility. There is also concern as to whether traditional Asian jewellery buyers will pay up to new highs this season. Occasionally this century they have baulked. But with the ECB propping up European sovereign debt with printed euros, the Bank of Japan now holding down its currency with printed yen, and the Fed threatening to once again start printing greenbacks, it's little surprise GFMS suggests gold can trade at US$1300/oz in the near term.
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jofortruth
Posted: Oct 30 2010, 10:48 AM


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QUOTE
By Dominic Frisby Oct 06, 2010

Gold and silver have broken out to new highs yet again. It seems to be happening almost every day now.

Yesterday, gold broke new records, closing in the US at $1,340 per ounce, while silver is now through its 2008 peak, closing at $22.80 an ounce, also an all-time high, except for a few crazy days in 1980.

In short, it's been an amazing couple of months for precious metals. So where is it all going to end?

While the dollar keeps falling, gold will keep rising

These new highs in gold and silver are as much a function of US dollar weakness as anything else. The US dollar is capitulating. In barely six trading days it has fallen from 83 on the index (measuring the dollar against a basket of other major currencies) to 77.75.

It looks as though we're going to at least test the blue trend line that I have drawn on the chart below. If that doesn't hold, I daresay we will head pretty sharply back down to those all-time lows of 2008. And if they don't hold, well – gold will be at silly numbers and US deflationists will be eating crow (a weak dollar will send US inflation surging).

Yet, if you look at how many euros it takes to buy an ounce of gold (the chart below), you can see that, amazingly, gold is still about 8% off its highs of June this year. Gold is also trading below its highs against the pound and the yen, albeit by just a few points.

That should put things into some kind of perspective. This rally is about US dollar weakness. So going back to my original question – 'Where is this all going to end?' – the answer is: when the US dollar finds support.

Bad news for savers across the world

Central bankers have ushered us into an era of global currency wars, as they race to debase their currencies fastest. It's a battle that the US Federal Reserve is currently winning (and what good has it done them?).

But this week, just as gold made new records, the Bank Of Japan took fiscal insanity to a whole new level, slashing interest rates to 0% and then announcing a newly printed pool of ¥5trn (c. £40bn) to buy all sorts of assets – Japanese government bonds, commercial paper, asset-backed commercial paper, corporate bonds, exchange-traded funds and Japanese real estate investment trusts.

I have some old junk that I was planning to sell on eBay. I'm wondering if I should just cut out the middle man and contact the Bank of Japan directly.

This, of course, follows the Fed's increasingly strong hints over the past fortnight or so that it is moving towards further conventional easing. Up until this point, it looked as though gold and silver were topping – the news gave the precious metals new impetus. And today the Bank of England meets to consider further stimulus. Will they take a leaf out of the coalition government's move towards tightening and austerity? Or will they undermine it completely, further driving up asset prices?

We know that savers are currently being robbed, deliberately so, by low rates and other forms of loose monetary policy, as central bankers pursue their, in my view, needless obsession with staving off deflation and 'kick-starting the economy'. With savers effectively losing money through inflation by sitting in cash, they are being driven out of bank deposits as they search for yield or capital appreciation. In short, people are being forced to speculate. What right does a central bank have to rob the prudent in such a fashion?

Another bubble is being blown

You might well be wondering – how can the stock market be doing so well when the economy is apparently in such dire shape the central bankers believe they need to act? The answer lies in this loose policy of central banks. By forcing money out of savings, it is creating distortions and blowing up yet another bubble. Is it any wonder that stock markets have had their best September since 1939? Is it any wonder that amid all this, gold and silver are breaking out to new highs?

You can't help but think that this is all heading towards some insane inflationary melt-up, or yet another deflationary bust. My strategy is to keep my core long position in gold and silver and gently take profits in the more speculative part of my gold and silver portfolio. Thus I still benefit from further price rises, should they happen, but I'm also in a position of strength to act when we get the inevitable correction.


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jofortruth
Posted: Nov 5 2010, 01:24 PM


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Dollar Begins Crash in Response to QE2 as Gold Scores New High
http://www.prisonplanet.com/dollar-begins-...s-new-high.html
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jofortruth
Posted: Nov 5 2010, 01:33 PM


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jofortruth
Posted: Nov 5 2010, 01:35 PM


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Gold, silver surge as Fed move punishes dollar
http://www.marketwatch.com/story/gold-rall...tors-2010-11-03
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jofortruth
Posted: Nov 12 2010, 10:16 PM


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Gold / Silver Ratio - David Morgan and James Turk Discuss:
http://www.youtube.com/watch?v=sIgCG_Lfi3g


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jofortruth
Posted: Jan 29 2011, 10:34 PM


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John Embry: 'Manufactured' gold correction will produce lowest price for year:
http://www.sprott.com/Docs/InvestorsDigest...11_pg003Emb.pdf
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jofortruth
Posted: Feb 19 2011, 02:34 PM


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The Gold Confiscation Of April 5, 1933
http://www.the-privateer.com/1933-gold-confiscation.html


2011 Legislation proposed in Washington State:
http://z4.invisionfree.com/The_Great_Decep...=0#entry5354663
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jofortruth
Posted: Feb 26 2011, 01:03 PM


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Ron Paul Educates the Congress about Gold - 2006 House Floor Speech:
http://z4.invisionfree.com/The_Great_Decep...?showtopic=8988
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jofortruth
Posted: May 29 2011, 11:14 PM


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QUOTE
Precious metals investors can breathe a collective sigh of relief now that the 1099 repeal has been signed into law.

The controversial Form 1099 tax reporting requirements that were inserted into last year’s 2,400-page healthcare legislation have been described by critics as intrusive, burdensome to businesses and simply un-American.

Enacted as part of the Patient Protection and Affordable Care Act, the Form 1099 tax reporting requirements would have forced all businesses, including precious metals dealers, to issue a Form 1099 for all business transactions of $600 or greater in total.

This small provision has drawn heated protests from gold and silver investors who have been rightfully concerned that the privacy of the American people would be compromised when conducting their own private transactions involving gold and silver with precious metal dealers.

The law would have compelled precious metals dealers to collect personal data on any individual who sold as little as a single ounce of gold and report that information to the IRS. The amount of paperwork required by this legislation would have been crippling. It is estimated that literally hundreds of millions if not billions of additional 1099 reports would need to be filed to the IRS each year.
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jofortruth
Posted: Jul 12 2011, 07:46 PM


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jofortruth
Posted: Jul 13 2011, 01:57 PM


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"Gold is not money" says Ben Bernanke. But to him printing fiat worthless bills is money? What a loser!
http://blogs.forbes.com/afontevecchia/2011...olds-not-money/
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jofortruth
Posted: Jul 13 2011, 02:04 PM


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Gold hits new high after Bernanke opens mouth
http://www.kitco.com/reports/KitcoNews20110713AS_focus.html
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jofortruth
Posted: Jul 13 2011, 06:37 PM


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Porter Stansberry - Gold is no where near the top: (Written in 2009. Looks like he was right.)
http://www.ibtimes.com/articles/20091218/gold-silver.htm
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jofortruth
Posted: Jul 13 2011, 10:21 PM


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Legislation introduced to end capital gains tax on gold silver coins and declare them legal tender:
http://z4.invisionfree.com/The_Great_Decep...wtopic=9461&hl=
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jofortruth
Posted: Jul 14 2011, 10:47 AM


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Ron Paul vs Bernanke: Is Gold Money? - July 13, 2011
http://www.youtube.com/watch?feature=playe...d&v=2NJnL10vZ1Y




States Disagree with Ben:
http://z4.invisionfree.com/The_Great_Decep...topic=9461&st=0
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